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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (48446)2/7/2013 10:26:55 AM
From: E_K_S   of 78664
 
Suncor Energy Inc. (NYSE: SU) Sold high priced shares for small gain (reduced position by 65%)
Suncor Reports Disappointing 4Q
Canadian Oil Sands Limited (Other OTC: COSWF) - continue to hold small position

Sold my high cost shares in SU bought 12/2011 for small gain. The company reported earnings yesterday and I was surprised by their huge write down and the possibility that their new Syncrude facility project would be terminated. These Canadian Oil Sands have a much higher cost of production so not only do you have to buy at a "value" price but need to have oil prices at the high end range to obtain good earnings.

My sale today represents a 50% reduction in all my Canadia Oil Sand exposure w/ oil selling near the historical high at $96.84/barrel. I have kept my low cost shares in each company allowing me to book a gain even if/when oil falls in price.

These funds will now be allocated to U.S. MLP's involved in NG/Oil gathering facilities, pipelines and LNG export facilities. Also, these Canadian oil companies continue to be disadvantage in pricing for their Oil & NG compared to world prices. This will only be resolved if/when more pipelines are built to provide the export of their resource. I continue to hold and buy E&P companies w/ exposure in Western Canada (ie land) as they present significant value when new infrastructure is completed.

EKS
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